Trade-show operator Emerald Expositions files for IPO

Emerald Expositions Events Inc. has filed for an initial public offering, according to a regulatory filing on Friday. The trade-show operator generated $323.7 million of revenue, $22.2 million of net income, $63.6 million of adjusted net income, and $89.6 million of free cash flow in 2016, making it one of the few profitable companies to have sought to go public in recent months. Emerald said all of its trade-show franchises are profitable and offered at least annually, and said its line of business offers diversification in a highly fragmented industry with "significant opportunities" for mergers and acquisitions. Main underwriters are B. of A. Merrill Lynch, Barclays, and Goldman Sachs. The company's stock is expected to trade on the New York Stock Exchange under the symbol EEX.

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